Rio Tinto CEO sees iron-ore price decline next year: Commodities

Rio Tinto Group (RIO) expects a decline next year in the price of iron ore, the source of most of its earnings, saying global supplies will increase.
“There will be capacity coming on next year,” including at Rio, the London-based company’s 63-year-old Chief Executive Officer Sam Walsh said in an interview in the city. “I expect that iron-ore prices will soften a bit next year but it will still be a good business to be in.”……………………………………….Full Article: Source